Tuesday, 21 October 2014
Last updated 8 hours ago
Aug 28 2012 | 8:06am ET
Hedge funds were up 0.19% month to date as of August 22, according to the Bank of America Merrill Lynch investable hedge fund composite index.
Hedge funds trailed the S&P 500, which was up 2.48% during the monitored period.
Equity long/short funds were the best performers, adding 0.8% as of August 22, followed by event-driven funds, up 0.68%. CTAs turned in the worst performance, losing 1.17%.
Market neutral funds sold market exposure to 0.4% from 2% net long, reports BofAML analyst Mary Ann Bartels, while equity long/short funds sold market exposure to 24% from 28% net long. Macro funds added to their shorts in the S&P 500 and NASDAQ, partially covered the 10-year Treasury, bought U.S. dollars, increased EM and EAFE exposure and sold commodities to a slight short. Macros tilted further toward large-cap stocks last week.
A look at Commodity Futures Trading Commission data shows that large agriculture speculators bought soybeans, corn and wheat while metal speculators bought everything—gold, silver, copper, platinum and palladium.
Energy speculators bought crude and heating oil, partially covered natural gas and held gasoline steady. Forex specs partially covered the euro and sold U.S. dollars and yen. Interest rate speculators sold 30-year Treasuries while buying 10- and 2-years.
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
Sep 30 2014 | 9:29am ET
The crisp Autumnal days of October are upon us, and so are a few of the hedge fund industry’s favorite charitable events. If you have never been to Rocktoberfest, well, you are missing out. And for a quieter evening of sipping and socializing, stop by HFC’s Wine Soiree. Read more…
Most traders agree that proper risk management is the key to successful trading. However, many traders depend on the deeply flawed measure of standard deviation as a benchmark of risk. Here we put it ...